FT Series

The Debt Machine

Lenders outside conventional banking are helping companies get further into debt. What will the consequences be as the economy tilts towards a recession?

© Adam Simpson
The Debt Machine: the best of your comments

FT readers give their feedback on our series about lenders outside conventional banking

Leveraged loan warnings are not fear-mongering

New dangers emerging in the credit markets should not be dismissed

Do leveraged loans pose a threat to the US economy?

An economist and a credit investor argue for and against the increase in this type of corporate borrowing

Debt-laden borrowers revel in Europe’s buyout boom

Risky companies pile on more debt with fewer safeguards, despite regulatory scrutiny

Non-bank lenders thrive in the shadows

Explosive growth of US private debt market brings parallels to ‘wild west’

How online platforms shook US small-business lending

New names step up to fuel America’s engine as capital-strapped banks pull back

More from this Series

Specialist loan vehicles lure yield-hungry investors

Designers of CLOs say that structures are much safer than crisis-era cousins

Investors in debt-laden companies face messy workouts

Byzantine debt structures will lead to lengthy, litigious and very costly bankruptcies

Graphic: The new corporate debt market

How do weaker borrowers get their hands on credit? 

What are leveraged loans?

Video: As lender protections weaken and more investors snap up these risky assets, some watchdogs warn that the booming market could pose a threat to the financial system

Debt machine: are risks piling up in leveraged loans?

Regulators fear looser lending standards for low-rated companies could precipitate the next downturn